HR Strategies in Banking Sector Special Reference to Public and Foreign Bank

Presently the competition is going on sky high in the banking industry. Merely tough competitors can persist under these prompt changes. Every single bank wished to face this situation and emerge as victorious, but it was not as easy as one could imagine. But this could be possible somewhat if a desire to work all together for transformation was made. Fast moving and complex world of new techniques andskills had forced banks to consider it and to adjust themselves to the changing banking environment. There was a requirement to advance competencies i.e. skill, knowledge and approach among the bank employees to make them more appropriate to the altering circumstances. Since every human being had potential to do remarkable things and to support him to understand, develop and utilize his her potential, the bank should provide them knowledge and emerging climate as well as prospects. And this was possible only if efficient and effective Human Resource Practices, which would maximize value and minimize cost within the organization, should be applied. But there was no single practice to which all organizations should aspire, but to some extent, each firm must have a distinguishing Human Resource Management System that represents core competencies required for the survival and sustainability of that particular organization. Best for one firm may not be best for other. The best technique applied last month may not be best for today. Hence in this present competitive world, management of human resources had been a matter of crucial determination of success for the banking industry. Better management of human resource had been more earnestly felt as a vital, in recent decade as before. Thus, with a view of the inevitability of Human Resource in the banking sector, the aim of this study was to examine HR Strategy followed by public and foreign sector banks. Dr. Kamaljeet Bhatia | Dr. Manpreet Kaur "HR Strategies in Banking Sector (Special Reference to Public & Foreign Bank)" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-4 , June 2021, URL: https://www.ijtsrd.compapers/ijtsrd42336.pdf Paper URL: https://www.ijtsrd.commanagement/hrm-and-retail-business/42336/hr-strategies-in-banking-sector-special-reference-to-public-and-foreign-bank/dr-kamaljeet-bhatia